To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code, with respect to taxation of U.S. shareholders of controlled foreign corporations, to permanently extend the subpart F exemption (which excludes such income from the shareholder's foreign personal holding company income) for active financing (insurance, banking, financing, or similar businesses) income earned on business operations overseas.…